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student loan interest rates

Posted by on Jul. 1, 2013 at 12:48 PM
  • 22 Replies

are doubled now, right?


I am officially never going back to school.


Does this affect anyone here?


by on Jul. 1, 2013 at 12:48 PM
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Replies (1-10):
Mommabearbergh
by Gold Member on Jul. 1, 2013 at 1:07 PM
1 mom liked this
It does make realize that getting my funeral business management degree is gonna be a slow process. Death makes money but not at that rate
flika
by Bronze Member on Jul. 1, 2013 at 2:35 PM
I'm in school now and just got my first student loan. I was afraid and reluctant to do it but I had no choice and took it. :(
TranquilMind
by Platinum Member on Jul. 1, 2013 at 2:37 PM

 I was wondering what happened with that.  I see that the rates indeed did double today.  Lovely. 

Very bad for students.

OHgirlinCA
by Platinum Member on Jul. 1, 2013 at 2:48 PM

 My oldest is starting school in the Fall.  Yeah... I'm not thrilled the interest rates on the loans went from 3.4% to 6.8%.  Thankfully, she doesn't have to take out a huge amount.

romalove
by Roma on Jul. 1, 2013 at 2:49 PM

My daughter will be a senior in September, so I have one year to figure it out.  I hope things will change, but if we have to borrow some to get my daughter through school, we'll do what we have to.

Mommy_of_Riley
by Jes on Jul. 1, 2013 at 2:50 PM
I though past loans were locked in and couldn't be raised....

Only the new loans are at 6.8% right?

Or am I just confused...
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adulation
by Bronze Member on Jul. 1, 2013 at 3:33 PM


Quoting Mommy_of_Riley:

I though past loans were locked in and couldn't be raised....

Only the new loans are at 6.8% right?

Or am I just confused...

yes, so if I want to get a loan to go to school now, the interest rate on it wil be 6.8% which is ridiculous, especially for someone already raising a kid.

stormcris
by Christy on Jul. 1, 2013 at 3:41 PM

No, if you didn't lock in the unsubsidized ones they could be as well. It has been 6.8% on those for a while though so I am not sure if they are higher. Those are always higher in interest that the subsidized ones.

Quoting Mommy_of_Riley:

I though past loans were locked in and couldn't be raised....

Only the new loans are at 6.8% right?

Or am I just confused...


yourspecialkid
by Platinum Member on Jul. 1, 2013 at 3:45 PM
1 mom liked this

 Yikes.  Maybe this will help keep some people from getting themselves in a financial fix though.  So many people have huge student loans and it really messes with their lives.

NWP
by guerrilla girl on Jul. 1, 2013 at 3:47 PM
:(
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